State unemployment insurance trust funds are rapidly running out of money

[RogueFactor]

Some states didn't have adequate reserves built up (http://money.cnn.com/2008/11/07/news/economy/unemployment_insurance/index.htm?postversion=2008110709)

Here is but one of many good quotes from the story...

The trust funds of five states are insolvent - meaning they have reserves of three months or less - while another eight state funds are nearly insolvent with reserves of four to six months, according to the National Employment Law Project. Six other states don't have enough money to cover a year of payments.

The solution? Raise the insurance tax on employers. Which makes it hard on employers, resulting in more lay-offs.

[grEnAlEins]

The solution? Raise the insurance tax on employers. Which makes it hard on employers, resulting in more lay-offs.

That sounds good to me, I mean it is the governments idea, so it is bound to work and be in my best interest:wall:

[RogueFactor]

If you were expecting a raise, dont expect it any time soon. Its going to go to the government who already mishandled their budgets. And expect to pay more for goods and services too, as these taxes will be factored into them.

As the market corrects itself, the American worker is going to have to work the same or harder for less.

[Mind'sEye]

As the market corrects itself, the American worker is going to have to work the same or harder for less.

“Most people prefer the certainty of misery over the misery of uncertainty.” (Virginia Satir)